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English definition of “recession”

recession

noun [C/U]    /rɪˈseʃ·ən/
social studies a period when the economy of a country is not doing well, industrial production and business activity are at a low level , and there are many people unemployed : [U] The country is mired in recession. [C] The Japanese economy is experiencing its worst recession in 20 years .
(Definition of recession noun from the Cambridge Academic Content Dictionary © Cambridge University Press)
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